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#2239473 - 07/13/20 05:14 PM HSA's & Online Banking
Soccer Offline
Diamond Poster
Joined: Jan 2010
Posts: 1,028
Utopia
Is there any prohibition against a HSA's being accessed via on line banking? I have reviewed the IRS rules and did not come across anything.

We currently allow online but it is now being questioned.
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General Discussion
#2239474 - 07/13/20 05:20 PM Re: HSA's & Online Banking Soccer
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,363
Galveston, TX
Define "accessed"
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#2239476 - 07/13/20 05:37 PM Re: HSA's & Online Banking Soccer
Bankwoman1 Offline
Diamond Poster
Joined: Dec 2015
Posts: 1,064
Midwest
We only allow access to HSA accounts in "view only" mode. We do not allow any type of transactions. I'm not sure there is a "prohibition" against it, but you would want to make sure any type of transactions being made are coded correctly and reported correctly.

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#2239478 - 07/13/20 05:37 PM Re: HSA's & Online Banking Soccer
Soccer Offline
Diamond Poster
Joined: Jan 2010
Posts: 1,028
Utopia
Able to make transfers in or out of the account. The specific question posed to me was how do we know if it is current or prior year contribution and if the funds are being used properly.

My mind says we are not required to police whether the money is used for medical, but the contribution question could be something we should know.
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